Here are five Fastmarkets stories you might have missed on Monday March 16 that are worth another look.A sharp decline in market sentiment, linked to the spread of the coronavirus (2019-nCoV), has halted activity and reduced prices in the Japanese construction steel sector, steelmaker Tokyo Steel said.Rio Tinto has slowed work on the underground project at its Oyu Tolgoi copper-gold mine in Mongol...Read More
Daniel Hisshion has joined Hong Kong-based minor metals company Fortis Metals as business development director, he confirmed to Fastmarkets. Fortis Metals, headquartered in Hong Kong, has a sister company Kite Metals in Europe, owns United States-based minor metals refiner and recycler Atlantic Metals & Alloys as well as Fortis Metals (Shenzhen) for operations in China.Hisshion - with over 25 year...Read More
Rio Tinto has slowed work on the underground project at its Oyu Tolgoi copper-gold mine in Mongolia because of the coronavirus (2019-nCoV) outbreak but it continues to operate and ship copper concentrates from the mine's open pit. Since January the movement of goods and people in Mongolia have been restricted within and across its border; this has further escalated recently after the first case of...Read More
Key data from the Friday March 16 pricing session in London. Key drivers: Cobalt prices had increased following the coronavirus (2019-nCoV) outbreak, but now prices are declining amid slow trade and limited inquiries, with sellers cutting offers and increasingly...Read More
Here are five Fastmarkets stories you might have missed on Monday March 16 that are worth another look.A sharp decline in market sentiment, linked to the spread of the coronavirus (2019-nCoV), has halted activity and reduced prices in the Japanese construction steel sector, steelmaker Tokyo Steel said.Rio Tinto has slowed work on the underground project at its Oyu Tolgoi copper-gold mine in Mongol...Read More
European car manufacturers have announced temporary stoppages at production sites across Europe due to the 2019-nCoV coronavirus pandemic, Fastmarkets learnt on Monday March 16.Car manufacturer Groupe PSA - maker of the Peugeot, Citroen, Opel and Vauxhall brands - has decided to close its plants in Europe, it said on Monday.It opted to close a number of production sites until March 27 "due to the...Read More
Domestic prices for hot-rolled coil in Northern Europe have remained almost unchanged day on day with buyers remaining in "wait-and-see" mode until they can evaluate risks related to the pandemic of 2019-nCoV coronavirus, sources told Fastmarkets on Monday March 16.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?481.25 ($534.61) per tonne on Monday March 16, u...Read More
Here are five Fastmarkets stories you might have missed on Monday March 16 that are worth another look.A sharp decline in market sentiment, linked to the spread of the coronavirus (2019-nCoV), has halted activity and reduced prices in the Japanese construction steel sector, steelmaker Tokyo Steel said.Rio Tinto has slowed work on the underground project at its Oyu Tolgoi copper-gold mine in Mongol...Read More
Special bar quality (SBQ) steel prices in the United States were flat across the cold-finished and hot-rolled grades during March, with market participants reporting continued soft demand offsetting rising ferrous scrap costs amid mounting concerns over the novel coronavirus (2019-nCoV).On the hot-rolled side, Fastmarkets' monthly assessment for steel bar hot-rolled special bar quality (SBQ) 1-inc...Read More
Trading activity in the export market for CIS-origin long steel products was nonexistent in mid-March because the market uncertainty caused by the 2019-nCoV coronavirus pandemic undermined demand that was already modest.And buying activity in the major sales outlets was reduced due to recent heightening of the political tensions in the Middle East, particularly in Turkey, Iraq and Lebanon.The Egyp...Read More
Cadence Minerals is poised to become a 20% shareholder in the Amap?? iron ore project in Brazil once the mine's current owner reaches a settlement agreement with its secured bank creditors. The London-based company and its joint-venture partners, Indo Sino Pte Ltd, have been in their own negotiations with the creditors and have offered a settlement involving a discount on the amounts owed by curre...Read More
Export prices for pig iron from the south of Brazil were stable in new sales heard during the week that ended on Friday March 13.Fastmarkets' weekly price assessment for pig iron, export, fob port of Vitoria/Rio, was $320-325 per tonne on Friday, unchanged week on week.One sale was reported at $324-325 per tonne fob for May shipment to a trader in the United States market.But the majority of marke...Read More
Ferrous scrap prices across the global markets moved downward during the working week to Friday March 13 on lower confidence and reduced trading because of the continuing container shortage.Market stasis ends with lower prices in TurkeyUS export market expecting lower pricesPrices slip in Taiwan, VietnamIndian markets falter on poor conditions.TurkeyPurchases of cargoes from the deep sea market fi...Read More
Negative sentiment prevailed in the export billet market in the Commonwealth of Independent States amid a lack of clarity over the impact of the novel coronavirus (2019-nCoV) pandemic, market sources said.CIS billet was available to customers mainly at $390-393 per tonne fob Black Sea early this week, down from $395-400 per tonne early last week and mills were ready to negotiate. Most customers sh...Read More
China's domestic rebar prices moved up significantly on Monday March 16 on the recovery of end-user demand after the novel coronavirus (2019-nCoV) outbreak showed signs of having peaked in the country. Eastern China (Shanghai): 3,530-3,560 yuan ($504-508) per tonne, up 80 yuan per tonne Northern China (Beijing): 3,400-3,430 yuan per tonne, up 70-80 yuan per tonne Demand at construct...Read More
European car manufacturers have announced temporary stoppages at production sites across Europe due to the 2019-nCoV coronavirus pandemic, Fastmarkets learnt on Monday March 16.Car manufacturer Groupe PSA - maker of the Peugeot, Citroen, Opel and Vauxhall brands - has decided to close its plants in Europe, it said on Monday.It opted to close a number of production sites until March 27 "due to the...Read More
The automobile industry in the United States is on the edge due to the fast spread of the novel coronavirus (2019-nCoV) across the western hemisphere, which has caused multiple auto plant closures in hard-hit European countries."All options related to protecting against exposure to the virus are on the table," according to a task force formed by the United Auto Workers (UAW) union, Gener...Read More
European car manufacturers have announced temporary stoppages at production sites across Europe due to the 2019-nCoV coronavirus pandemic, Fastmarkets learnt on Monday March 16.Car manufacturer Groupe PSA - maker of the Peugeot, Citroen, Opel and Vauxhall brands - has decided to close its plants in Europe, it said on Monday.It opted to close a number of production sites until March 27 "due to the...Read More
European car manufacturers have announced temporary stoppages at production sites across Europe due to the 2019-nCoV coronavirus pandemic, Fastmarkets learnt on Monday March 16.Car manufacturer Groupe PSA - maker of the Peugeot, Citroen, Opel and Vauxhall brands - has decided to close its plants in Europe, it said on Monday.It opted to close a number of production sites until March 27 "due to the...Read More
Cadence Minerals is poised to become a 20% shareholder in the Amap?? iron ore project in Brazil once the mine's current owner reaches a settlement agreement with its secured bank creditors. The London-based company and its joint-venture partners, Indo Sino Pte Ltd, have been in their own negotiations with the creditors and have offered a settlement involving a discount on the amounts owed by curre...Read More